Abstract

Kolb (1984) described a set of four learning preferences exist and consist of the way that an individual acquires new information and the way that this individual transform said information. It has been shown previously that there is a link between these preferences and the way that an entrepreneur identifies opportunities. This study builds upon this framework to look at the relative stages of the entrepreneurial process that each of the remaining three preferences are best suited. Further to this is uses post-hoc analysis to determine the potential effects of the strength of these preferences. This study used the theoretical work previously outlined by a series of authors to test for the learning preference profile of a set of individuals and then allow them to complete a fictional case study that provided them with a series of choices regarding the continuation or abandon (exit) of a business venture. The concept behind this is based on work previously done in several other fields and has proven to be powerful in identifying decision making patterns. This study shows that there is indeed at least a weak trend in line with the theory that there are competency-associated preferences that favour different stages of the entrepreneurial process. Accommodation preferences have the highest average continuation rate of all the preferences (57.97%). The relative strength of the preferences also suggest that the strong preferences are more fixed into a singular competency set and unable to move as freely around the preference spectrum. Those that show a weaker preference appear to have a greater chance of moving throughout the case study with greatest continuation rates. This suggests that they have a greater range of competencies to choose from despite still possessing a dominant earning style.